These are the top ten richest countries in the world for 2017-2018 based on their GDP, or Gross Domestic Product. Gross Domestic Product refers to the all around value of goods and services made in a country within a certain time period, such as 2017.
The GDP can be calculated either yearly or quarterly, and includes goods and services both public and private. So, you could say that the GDP is a good yardstick to measure the productivity that results in economic returns, so basically, all economic activity. This GDP tells us much about a country, such as it’s standard of living or how well the majority of the people live in that country.
Here are the Richest Countries of the world in 2017- 2018 based on GDP.
France, the home of the world famous Eiffel Tower, superb cuisine and the destination for those who are in love with life and love itself. France is for those who wish to enjoy civilized culture that appreciates art, grace and beauty in all its forms. France has the third largest economy in Europe with a Gross Domestic Product of 2,833 trillion, their currency is the franc. As one would expect, the tourist industry in France is a significant contributor of their GDP, and is considered the number one country visited in all the world. People come from all over the world to visit one of their three most famous art museums, the Lourve, Musée d’Orsay, or Beaubourg. On average, France has over 85 million tourists each year, and most stay at their beautiful ski and beach resorts, as well as enjoy visiting many of their wineries. France also gets strong economic gains from its chemical industry, and Sophia Antipolis, the major tech center of the country.
9. United Kingdom
The United Kingdom is a member of the Commonwealth of Nations, and includes the countries of Great Britain, Northern Ireland, Scotland, and Wales. The United Kingdom is rich in culture, from the literary giants of Shakespeare and Byron, excellence in stage and screen performances as well as a wealth of celtic history. The culture of the United Kingdom has influenced much of the western world, and remains a powerful influence. While tourism is an industry for the UK, it does not contribute that much to their affluence. Their Gross Domestic Product is 2,905 trillion, and their currency is the Pound sterling. The highest contributing sector to the UK’s GDP is the service sector, which handles around 77.8 percent of the GDP, followed by production, construction and finally agriculture.
Brazil has the strongest economy in Latin America, the second largest in South America,and is an absolutely gorgeous country. Brazil has seen the likes of Fred Astaire and Ginger Rogers grace its lovely landscape of Rio de Janeiro, as well as being home to some of the best soccer players in the world. Brazil is home to many festivals and attractions including the annual carnival in Rio, which draws thousands of people from all over the world to enjoy its hospitality and splendor. If you love your coffee, chances are it was grown in Brazil, as Brazil has been the number one producer and exporter of coffee for over 100 years. The Gross Domestic Product of Brazil is 3,216 trillion with the currency in Brazilian real (BRL). Though tourism plays a part in Brazil’s revenue, by far the greatest contribution of wealth to Brazil comes from the services sector, followed by agriculture and finally industry.
Indonesia is famous for its warm and welcoming multicultural population, thick lush and green rainforests and tourist destinations such as Baliem Valley, Borobudur Buddhist temple, Bunaken and Kerinci Seblat National Park. Indonesia is a republic, whose capital is Jakarta which is also Indonesias commercial hub. Indonesia has the largest economy of all Southeast Asia, with the Gross Domestic Product of Indonesia being 3,257 trillion, and their currency is measured in Indonesian rupiah (IDR). The majority of their wealth comes from their services sector at 43 percent, followed by the manufacturing sector, and lastly agriculture. Tourism, as well as exports of oil, gas and textiles help to garner it a place on our list.
As far as pure landmass goes, Russia is the largest country in the world. Established by Peter the Great in 1721, the great country of Russia has continued to move through a variety of transitional phases to become the fascinating and diverse country it is today. The Gross Domestic Product of Russia is 3,938 trillion and the currency is the Russian ruble (RUB). The services industries lead the way with approximately 59 percent of contribution to the GDP, followed by industrial sector and agricultural. Other prominent industries include Oil and gas, chemicals, mining and processed metals, to name but a few. Most of the wealth centers around Russia’s capital city, Moscow, whose major industries were first encouraged by the late Catherine the Great of Russia.
Germany is a federation with a social market economy, which is made up of 16 states. Germany is a country that prices itself on innovation, creativity and precion engineering. As a result, Germany is well known by its precisely designed and crafted watches, cars, and whose technological services are highly sought out by people around the world who are looking for exactness in their products. It is interesting to note that this powerhouse country also has a handle on being the second largest exporter in the world with vehicles, machinery and chemical products at the top of the list. Germany’s Gross Domestic Product is 4,135 trillion with the Euro (EUR) as the currency of choice. As with most of the countries in our list, it is the service sector which contributes the most, followed by the industrial sector and lastly the agricultural sector. Lastly, 28 Fortune Global 500 companies call Germany their home.
Japan is a most fascinating country with its diverse creativity from everything from mangas, animes, film and of course, its high tech industries. Japan has successfully merged its creative side with its tech side, and as a result has become known for its innovative robotics industry, with Japanese company Suidobashi is now producing Kuratas, actual mechs for possible use in industry. The Gross Domestic Product of Japan comes in at number 4 on our list and is 5,420 trillion with the currency used being the Japanese Yen (JPY). The services sector ranks high here, as does their industries and agricultural sectors. Japan put much of its military growth on the back burner so that it could concentrate on economic growth after the war, and it served them very well, and is known as the ‘Japanese post-war economic miracle’.
India, land of mysticism, magic and great beauty is known as a country with great biodiversity in both flora and fauna. What makes India so special, is that it very smartly incorporated a varied culture within a modern world, carefully keeping much of its identity intact while embracing new ideas. India is number three on our countdown, with a Gross Domestic Product of 9,489 trillion and the currency they use is called the Indian rupee (INR). India has successfully been able to harness the uniqueness of its history and expertly blend it to handle technology and diversity. Indeed, diversity seems to be something India does very well, even with regards to its industries. Industries which flourish in this country include: Textiles, agriculture, telecommunications, biochemical industries and much more. Today, India is home to a well-respected aerospace industry, a huge supporter of green energy, as well as being known for its entertaining and amazing Bollywood films.
2. United States
The United States is a capitalist mixed economy, a massive melting pot of people seeking opportunity and freedom from oppression the world over. The ability of this country to be able to handle the great diversity and freedoms allowed its people is a testament to its strength. Second on our list, the USA has a Gross Domestic Product of 19,417 trillion, and the currency is measured in dollars. Like India, the United States supports a diverse group of industries. Just about any industry you can think of, you can find in the United States, from solar panels to manufacturing, entertainment, telecommunications, you can bet there is indeed an industry for it here. You can also find brands headquartered in the States all over the world, such as Coca-Cola, and franchises such as Subway and McDonalds, which bring much needed income and opportunities to communities across America.
Known as the birthplace of stunning martial arts, philosophies and beauty, China has emerged to become a powerful economic force in the world today. Faced with a huge population, it works diligently to make itself a tough and resilient player on the world stage. China’s Gross Domestic Product is 23,194 trillion, and their currency is measured in the Chinese yuan (CNY). Most of us are familiar with the ‘made in China’ stamp on the bottom of much of our goods, so it is easy to understand that manufacturing and export are two of the largest industries in China, bringing them millions in revenue every year. Most of the wealth is concentrated in the coastal areas of China, with the interior portion significantly lagging behind. These coastal regions of growth are seen as so important to China’s overall economy, that the government even has a policy to remove any and all obstacles which hinder their growth.
We hope you enjoyed our countdown of the top ten richest countries in the world right now in 2017-2018. As can be seen, each country is more than capable of holding its own on the global stage, each offering to the world what it has in exchange for what it needs. It is an ongoing exchange, a trade of natural resources, goods and services which interweave to create a global network where almost any need can be adequately met.